Senior Director of Financial Operations & Development
Reporting to the CFOO, the Sr Director of Financial Operations & Development is responsible for the business processes, procedures and operations related to financial and business services. Working independently, the incumbent will develop and implement processes and procedures to ensure BioMADE financial and business services operations are streamlined and in compliance with all policies and agency requirements. The funding portfolio will be a complex one including federal, state, and private awards, significant and complex cost share, and membership dues. BioMADE’s primary cooperative agreement is an award from the DOD currently funded at $87.5M over seven years. The coop agreement operates under 2CFR200 requirements. It is anticipated that BioMADE will grow rapidly to include 200-300 members and significantly grow in annual funding to greater than $25M a year. The incumbent is responsible for the financial accounting and management activities for the large number of BioMADE subawards to private and public entities. Additionally, the Sr. Director will prepare financial budgets, projections and reporting to meet program, Board, agency and reporting requirements and needs; and will oversee audit activities and tax preparation. The position will supervise the finance and business services staff and will coordinate services closely with the University of Minnesota which provides the accounting, business services and reporting infrastructure.
(60%) Finance: Develop and implement robust, industry standard financial & business processes and approaches to achieve them. Oversee processes ensuring that financial activity meets all BioMADE audit and reporting requirements, including as a “major nonprofit organization” as defined in 2 CFR 200 and as a 501(c)(6) non-profit organization. Act as liaison with relevant University of Minnesota (UMN) finance & operations personnel to ensure that financial services are delivered in accordance with relevant agreements. Work with UMN personnel to develop processes and procedures to ensure BioMADE’s financial, accounting, purchasing, and procurement management needs and requirements are met. Manage complex proposed budget and track to expenditures to ensure spend rate matches projections. Review budget, expenditures and projections with program managers to ensure they spending is within program plans. Develop reports to meet defined needs and financial reporting schedules. Define financial reporting requirements including to meet BioMADE’s federal requirements, provide information to inform programmatic and management decisions. Develop reporting schedule to meet all reporting requirements including at least monthly to CEO and program leads. Review reports for accuracy and to ensure appropriate expenditures. Ensure expenditure rates match projections and make recommendations to adjust spend as needed to ensure spend matches budget. Develop reports for the CEO, CFOO, and Board of Directors as needed to ensure non-profit is managed in a fiscally responsibleand compliant manner. Facilitate audit and tax reporting. Work closely with auditors and preparers to provide necessary information. Review finding and develop responses. Review tax filings for accuracy. Responsible for meeting all sponsor financial and administrative reporting requirements for BioMADE funding agreements. Ensure all financial deadlines are met. Develop processes and procedures for tracking cash and in-kind cost share contributions. Provide cost share reporting as needed. Develop cost-share projection plan and oversee the capture of cost-share against plan. Review invoices before submission by UMN personnel to DOD (through WAWF system) to ensure accuracy. Review UMN invoices to BioMADE to ensure accuracy prior to processing for payment by BioMADE personnel. Prepare required sponsor reports including the quarterly METT report and quarterly DOD MII report. Reports to be reviewed by CEO prior to submission. Deadlines are firm and must be met in a timely manner.
(30%) Accounting: Serve as primary contact and liaison with UMN for accounting and business services. Work with UMN offices as required to ensure accounting and business services meet BioMADE needs and are in compliance with all financial, business service and audit requirements. Responsible for developing and maintaining BioMADE accounting records in compliance with appropriate policies, guidelines and requirements. Manage the processing of invoices, purchase orders, and other financial instruments ensuring payments and actions are processed in a timely manner and are accurately recorded. Review processed transactions to ensure appropriateness of expenditures and accuracy of chartstrings. Ensure appropriate controls are in place and comply with all requirements.
(10%) Other duties as assigned.
Minimum qualifications: Bachelor’s Degree and 12 years of related experience; experience should show evidence of progessive responsibility Experience managing and supervising a diverse workforce Demonstrated advanced budget management in a complex funding environment Significant knowledge of federal and/or non-federal grant administration. Experience with Code of Federal Regulations, Federal Acquisition Regulations, grant administration circulars, regulations and policies Experience working with and maintaining confidential information. Excellent communication and customer service skills with proven ability to engage diverse audiences Proven ability to identify, establish, and maintain relationships with external and internal stakeholders, including government, academia, and industry partners Ability to prioritize and follow through effectively
Preferred Qualifications: Advanced Degree in relevant field Experience with accounting, contracting, or procurement and knowledge of federal government organization, operation and administrative procedures desirable. Experience managing awards at a defense-focused nonprofit R&D facility preferred
The University of Minnesota, founded in the belief that all people are enriched by understanding, is dedicated to the advancement of learning and the search for truth; to the sharing of this knowledge through education for a diverse community; and to the application of this knowledge to benefit the people of the state, the nation, and the world.